Commsave Credit Union Urges Families to Avoid a Debt Hangover in the New Year

Friday 19 December 2025

As Christmas approaches and household budgets are stretched by gifts, food and rising seasonal costs, Northamptonshire-based credit union Commsave is urging people to avoid unsafe borrowing and take a more considered approach to festive spending.

With Buy Now Pay Later (BNPL) offers, high-cost credit and illegal loan sharks increasingly visible in the run-up to Christmas, many families risk starting 2026 weighed down by debt taken on to cover festive expenses.

Matt Goulding, CEO of Commsave, said: “Christmas should be a time of joy, but for many it has become a source of real financial pressure. Too often, people are still paying off last year’s Christmas while trying to fund this one. That cycle can take a serious toll on both finances and wellbeing.

We encourage people to pause before turning to quick fixes or too-good-to-be-true loans. Decisions made under pressure at Christmas can linger for months after the decorations come down.”

Commsave highlights the importance of saving regularly throughout the year to build financial resilience and reduce reliance on unsafe lending when costs peak. Members are supported to develop healthy saving habits, with the option to create separate savings pots for predictable expenses such as Christmas, holidays or family purchases. Affordable, ethical loans are also available when needed, alongside access to a free Bereavement Fund and the Commsave Lottery.

Commsave also provides a range of financial education tools to help people make informed choices. The Commsave Educates app offers practical money management guidance and budgeting support, helping members build confidence and long-term financial wellbeing.

With mobile and online shopping making it easier than ever to spend impulsively, the risk of overspending at Christmas has grown.
Matt added: “When spending happens with just a tap on a phone, it’s easy to lose sight of the real cost. Unscrupulous lenders exploit this pressure at Christmas, offering fast cash that comes with high interest and unmanageable repayments.

Christmas doesn’t have to lead to regret in the New Year. With careful planning, safe savings and access to ethical credit, families can enjoy the festive season without carrying the financial stress into 2026.”

For more information about safe savings, ethical loans, consolidation options and financial support, visit www.commsave.co.uk or call 0303 0402 660.

Find out more about Commsave’s financial education tools at www.commsave.co.uk/education.